(Screenshot via YouTube)
Actua Corporation, a Radnor, Pa.-based cloud computing company, announced on Wednesday it had completed the sale of GovDelivery to an investor group led by Austin, Texas-based venture firm Vista Equity Partners.
The overall sum for the deal? A hefty $153 million in cash.
Back in 2009, Actua dished out $20 million to acquire the Minnesota-based digital communications company for governments. The completion of the exit, announced on Wednesday, amounts to a nifty 7x return for the Main Line firm.
Initial word on the deal came out last September. (Technical.ly DC was ON IT.) GovDelivery CEO Scott Burns said in a statement that Vista would serve as a partner for the company as it heads onto its next phase of growth.
GovDelivery is reportedly used by some 1,800 institutions to deliver messages to 120 million people. (We’re talking agencies and offices the size of the Food and Drug Administration to smaller, regional entities like Michigan’s Department of Natural Resources.)-30-
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